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Prior to this, the Ministry of Finance only increased investments in gold, the volume of which amounted to 554.9 tons.
The Russian Ministry of Finance sold a batch of gold on the market for the first time to cover the budget deficit, a correspondent reports. DOPs.
It is reported that in January 2023, 3,633 kilograms of the precious metal in impersonal form were sold from the National Wealth Fund (NWF). Subsequently, the proceeds from the sale were credited to the federal budget to cover its deficit.
The opportunity to invest NWF funds in gold appeared relatively recently: the corresponding changes in the fund’s investment structure were approved in May 2021. According to the updated regulatory asset structure of the NWF approved at the end of 2022, the share of gold in it can be up to 40%.
Until now, the volume of investments of the National Wealth Fund in gold has only increased and, following the results of crediting oil and gas additional income for 2021, reached 554.9 tons last May. The indicator has remained at this mark so far, but now 551.3 tons of gold have been placed on a separate account for recording the funds of the National Wealth Fund in the Central Bank.
